High Court to hear SARFAESI, debt recovery cases till DRT, DRAT vacancies filled: Supreme Court of India
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The bench observed that repeated adjournments during virtual hearings due to lack of tribunal members in various states defeated the purpose of the hearing by prolonging the litigant's plight.
New Delhi: The Supreme Court has asked respective High Courts to hear SARFAESI (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest) and debt recovery cases till vacancies in Debts Recovery Tribunals (DRTs) and Debts Recovery Appellate Tribunal (DRAT) are filled by the Union Government. The 3-judge bench of CJI Justice NV Ramana, Justice DY Chandrachud and Justice LN Rao will now the plea by Madhya Pradesh Bar Council in January 2022 against the Delhi High Court order which upheld the transfer of debt recovery cases from the central Indian state to DRT Lucknow due to vacancies in DRT Jabalpur.